U.S. and Allies Release 60 Million Oil Barrels from Reserves

Covers deficiencies from cutting off the Russian oil trade.

The White House and the International Energy Agency (IEA) announced on Tuesday that they would be dipping into global oil reserves to counter the shortages from withheld oil trade with Russia. 30 million barrels will come from the U.S. Strategic Petroleum Reserve, and 30 million barrels will come from the other 30 countries within the IEA.

“Today’s announcement is another example of partners around the world condemning Russia’s unprovoked and unjustified invasion of Ukraine and working together to address the impact of President Putin’s war of choice,” White House Press Secretary Jen Psaki said. “President Biden was clear from the beginning that all tools are on the table to protect American businesses and consumers, including from rising prices at the pump.”

As the Lord Leads, Pray with Us…

  • For wisdom for the president and his energy advisors as they tap into the strategic reserve.
  • For discernment as U.S. and international officials release oil to make up the deficit.
  • For the president to seek God’s direction as he responds to foreign and domestic issues.

Sources: The Hill, NPR


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